How we work
Right first time, Packaging and timescales
We want your clients’ mortgage application to run as smoothly as possible - so here is what you can expect when you apply through Birmingham Bank.
Getting the Agreement in Principle
- Your reference number will be visible on the dashboard
- We also send you a copy of your submission via email
Following the AIP, a full application must be submitted within 30 days, and documents must be attached to support the application.
Valuations
The short form valuation fee scale for standard buy to let properties up to £1m including HMOs up to and including 5 rooms is available here. For HMOs of 6 beds or more and all MUFBs, our valuation team will obtain specific valuation fee quotes. This normally takes 24 hours but may take up to 3 days.
To protect the customer from losing their valuation payment, our standard process is to instruct the valuation only after the Underwriter has approved the documents received. Valuation fees are only refundable until the valuer is instructed.
It is possible to request that a valuation be instructed before all documents are approved; we will ask via the portal for your authority to instruct the valuation accepting the risk that the fee cannot be refunded if the case is subsequently declined.
Please pay the valuation fee into Sort Code: 30-62-61, Account Number: 12757962, Account Name: Birmingham Bank
Packaging your case - right first time
We can process applications much more quickly if all requested documents and information are supplied alongside the full application. All applications require as standard:
- Portfolio Schedule - all borrower types (BB template)
- Latest 1 month personal bank statements - all borrower types
- 'Rental bank statements' - Latest 3 months bank statements showing rental income - all borrower types
- Proof of deposit - if 3rd party purchase
- Individuals SA302 + tax year overview or latest payslip (1 month)
Please endeavour to include all documents at the outset to avoid your application being placed back into the underwriting queue.
We instruct our solicitors immediately at offer stage however you may wish to instruct yours earlier if nominating your own. Dual Representation and Separate Representation options are available on Purchases and Remortgages. View our Legal fee scale here
Something to say or ask?
Please avoid emailing Underwriters directly as it may result in items not being assigned to the correct case. To ensure your message or item is allocated to a case and put back into the underwriting queue, please cite the case reference number and email the relevant team via one of these inboxes:
- btlenquiries@birminghambank.com for any pre-application enquires
- mortgages@birminghambank.com for all post-submission/pre-offer enquiries
- valuations@birminghambank.com to make a change to your valuation requirements
- completions@birminghambank.com for all post-offer enquiries
Please note: you may find on your first case with us that the system emails go into your spam folder. If you're awaiting an update, please check there first. If you are able to add 'emails from @birminghambank.com' to your safe list, please do.
Timescales - what to expect
AIP stage
Our Agreements in Principle are credit-searched and typically returned within 2 days
Valuations
Offer stage
We aim to produce the offer within 3 days of approval of all documents and receipt of a satisfactory valuation
Completion
We require 5 working days to review all Certificates of Titles (COTs), only in exceptional circumstances can we release funds more quickly
Procuration fees
We strive to pay broker procuration up to 14 days after completion as per the Introducer Agreement.
Our ethos
Working exclusively with you
We offer a dedicated Account Manager for each of our exclusive panel members. We maintain a small exclusive panel membership to protect the depth of relationship directly with you, the intermediary.
We are deliberately not on sourcing systems because we focus our proposition and our communications directly on you, without fielding requests from the broader networks and wider market. Through this depth of relationship, we can add value through market-leading rates and proposition for both you and your clients.
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